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  • By Matthew Burgess

Innovation-led incubation and value-based pricing: Or how I learned to stop building faster horse ca


Abstract

Innovation is no longer on the list solely for start-ups but has become a strategic

goal for senior leadership of small, medium and large sized organisations. However,

professional service organisations, and in particular those in the legal industry, are

struggling to match other industries in their stride.

Incubation of idea generation, that is largely innovation led, takes place outside the

confines of incumbent firms and businesses, such as incubator spaces. However,

the two cannot be separate; innovation by itself is insufficient. There must also

be an incubation of new concepts, trialled in a constant and disciplined manner

designed to achieve successful new business models. In many respects, innovation

is a necessary, but not a sufficient, building block of incubation.

Ultimately, the innovators are thinkers; the incubators are the doers. Professional

services industries need to embrace innovation led incubation, disrupt themselves,

and deliver sustainable success into the future.

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